K12, Ivanhoe, Urban Outfitters are big movers

Published December 14, 2011 by
Business - Wall Street

NEW YORK (AP) ? Stocks that moved substantially or traded heavily Tuesday on the New York Stock Exchange and Nasdaq Stock Market:

NYSE

Morgan Stanley, down 21 cents to $15.17

The bank reached a settlement with MBIA that it says cuts risky assets, increases a key capital measure and resolves litigation.

K12 Inc., down $6.79 at $22

The New York Times published a story that was critical of the educational value of the company’s online schools.

Seaspan Corp., up $1.71 at $12.16

The shipping company plans to buy back up to 10 million of its shares at a 43.5 percent premium to Tuesday’s closing price.

Marathon Oil Corp., up 32 cents at $27.64

A Deutsche Bank analyst upgraded the oil company’s stock, saying Marathan will benefit from oil demand outstripping supply growth.

Ivanhoe Mines Ltd., down $4.69 at $16.01

Rio Tinto may consider raising its stake in Ivanhoe, but says it doesn’t currently plan a takeover bid for the copper and gold miner.

Nasdaq

Urban Outfitters Inc., up $1.41 at $27.87

The retailer said a key revenue measure is rising as the industry heads into the critical holiday shopping period.

Endocyte Inc., down $6.72 at $3.57

The biopharmaceutical company’s stock slid after it released results of a recent clinical trial of its lead drug candidate.

Cabot Microelectronics Corp., up $5.78 at $45.99

The chip equipment maker plans a special $15 dividend in early 2012, and increased the money available for stock buybacks.

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